ValuEngine Downgrades Mueller Industries (MLI) to Sell
Mueller Industries (NYSE:MLI) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Monday.
NYSE MLI traded down $0.24 during midday trading on Monday, hitting $28.73. The company had a trading volume of 160,600 shares, compared to its average volume of 240,878. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.43 and a quick ratio of 2.35. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 19.28 and a beta of 1.43. Mueller Industries has a fifty-two week low of $25.26 and a fifty-two week high of $37.57.
Mueller Industries (NYSE:MLI) last released its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The company had revenue of $662.77 million during the quarter, compared to the consensus estimate of $663.41 million. Mueller Industries had a net margin of 3.59% and a return on equity of 16.10%. sell-side analysts expect that Mueller Industries will post 1.82 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Mueller Industries during the 1st quarter valued at about $174,000. Raymond James Financial Services Advisors Inc. bought a new position in Mueller Industries during the 2nd quarter valued at about $203,000. CIBC Asset Management Inc bought a new position in Mueller Industries during the 2nd quarter valued at about $222,000. Advisor Partners LLC bought a new position in Mueller Industries during the 2nd quarter valued at about $256,000. Finally, SG Americas Securities LLC lifted its holdings in Mueller Industries by 101.4% during the 1st quarter. SG Americas Securities LLC now owns 10,694 shares of the industrial products company’s stock valued at $280,000 after purchasing an additional 5,384 shares during the last quarter. 92.26% of the stock is owned by institutional investors.
About Mueller Industries
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, Asia, and Mexico. Its Piping Systems segment manufactures copper tubes and fittings, plastic fittings, line sets, and related components for water distribution system, heating system, air-conditioning, and refrigeration applications, as well as drainage, waste, and vent systems.
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